NetAsset - Asset Balance Roll Forward Report
Purpose
The asset balance roll forward report is used to summarize the beginning and ending asset balance accounts (Gross assets and accumulated depreciation) for each asset type and the roll forward activities associated with those accounts (additions, disposals, transfers, and other activities).
How To
Navigation:
NetAsset > Reports (All or GL & Recon) > Asset Balance Roll Forward Report > Run
Filtering:
The report search can be narrowed down by adjusting the filters for subsidiary, department, class, location, accounting period, or date. Once desired filters are set, click preview to view the reconciliation.
Results
Upon running the report the user will see the the following activity information:
- Beginning Balance
- Any transaction impacts to the accounts prior to the reporting period as well as any NetAsset Go-Live Entry impacts
- Additions
- Gross: NetAsset Capitalization & NetAsset Build Up Entries
- Accumulated Depreciation: NetAsset Depreciation Entries
- Disposals
- NetAsset Disposal Entries
- Transfers
- NetAsset Transfer Entries and Intercompany Journals
- Other
- Any transaction impacts to the accounts during the reporting period not included in another column
- Ending Balances
- Beginning balances + transaction impacts from the reporting period
The asset types can be expanded to drill down to the individual asset and underlying transactions. Select the export button to download report into Excel.
Troubleshooting
Unable to reconcile the "Other Activities" column?
The "Other Activities" column within the report represent the asset revaluations that have been made to the asset.
Is there a row with "- None -" as the header?
This represents balances or transactions that have been booked to the applicable account # but were not tagged to a NetAsset Asset.
To troubleshoot, you need to find these erroneously posted transactions. There are two options:
1. Change the filters on the Asset Balance Roll Forward report to include the missing transactions:
- "Report Level" filter to "Level 3 (Transactions Detail)"
- "From Date" filter needs to be far enough back to include the transactions - this isn't limited to the "Go Live Date" or what you see under the accounting period, you can put any date in this field to pull in prior transactions. If there is still a balance in the Beginning column, you haven't gone back far enough on your dates.
2. View the Untagged G/L Transactions report to see the list of transactions.